Here is a great article that addresses what Dave Ramsey gets terribly wrong. Ramsey gets several things right and has done a fantastic job helping people get out of debt. Many of the strategies he teaches I completely agree with. But anyone who has listened to him knows – Dave has it out for Whole Life Insurance. And I must tell you – his perspective on whole life insurance is entirely off base. Whole Life Insurance is not an investment, but that is what he continually compares it to. Whole Life is a flexible, valuable, contractually guaranteed financial vehicle that he obviously has not taken the time to understand. The attached report by Robert P. Murphy breaks it all down and explains how misleading Ramsey’s claims are.
And why should you care what Robert Murphy thinks? Because he knows what he is talking about! Robert is a well-known American Economist, is on the Board of Directors for the Nelson Nash Institute, and in 2021 was ranked as the 11 th most influential person in economics by Academic Influence. You can listen to Robert on the Lara-Murphy Report Podcast or his own podcast, The Bob Murphy Show. The report is a long read but full of great information. I would love to hear your thoughts!
